Ahasolar Technologies IPO will open for subscription from 10 July 2023. the company aims for an issue size of ₹12.85 Cr through this IPO.
Company Overview
| Full name | Ahasolar Technologies Limited |
| Sector | Information Technology |
| Industry | IT-Software |
| Company Website | https://www.ahasolar.in/ |
About Company
Incorporated in 2017, Ahasolar Technologies is engaged in the business of CleanTech enabling Energy Transition through Digital Transformation and henceforth empowering stakeholders to adopt renewable energy. It has developed Software as a Service (SaaS) products for solar companies to streamline the processes, design PV, do project management, and monitor generation along with an integrated Marketplace to connect the demand & supply digitally. Apart from this, another SaaS product is for the governments to implement the distributed renewable program in their services area.
The business of the company can be divided into the following segments:
- Solar Software Service
- Solar Marketplace
- Solar Advisory and Consultancy Service
Ahasolar Technologies has been working with multiple national, international, government, and private companies in enabling them to accelerate the adoption of solar through its solutions. The products of Ahasolar Technologies are offered under the names:
- AHA! Rooftop Solar Helper
- AHA! Rooftop Solar Helper (Pro)
Through its advisory services, the company has footprints across India and currently working with 38 cities to transform them into solar cities and enable the growth of solar namely in Gujarat, Punjab, Uttar Pradesh, Goa, Maharashtra, Telangana, Uttrakhand, Jharkhand, Delhi/NCR, Odisha, Karnataka, Kerala, J&K, etc.
The Objective of the Issue
- Development of Solar PV Plant
- Setting up of Electric Vehicle Charging Infrastructure
- Purchase of Electric Vehicle
- To Meet Working Capital Requirements
- General Corporate Purpose
- To meet Public Issue Expenses
IPO Timetable
| IPO Opening date | 10 July 2023 |
| IPO Closing | 13 July 2023 |
| Basis of Allotment | 18 July 2023 |
| Initiation Refund | 19 July 2023 |
| Credit to Demat Account | 20 July 2023 |
| Listing Date | 21 July 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹12.85 Cr – 818,400 shares |
| Fresh Issue | ₹12.85 Cr – 818,400 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹157 per share |
| Lot size | 800 Shares |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹125,600 |
| Retail (Max) | 1 | 800 | ₹125,600 |
| HNI (Min) | 2 | 1,600 | ₹251,200 |
Reservation Details
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 187.61 | 1,713.33 | 2,104.23 |
| Expenses | 176.98 | 1,622.08 | 1,932.07 |
| Net income | 7.91 | 68.63 | 176.38 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.49 | 4.28 | 7.94 |
| PE ratio | – | – | 19.77 |
| RONW (%) | 87.20 | 19.95 | 43.54 |
| NAV | 0.63 | 4.91 | 17.89 |
| ROCE (%) | 36.12 | 108.13 | 63.53 |
| EBITDA (%) | 5.82 | 5.48 | 9.20 |
| Debt/Equity | 2.41 | 0.74 | – |
Company Promoters
- Mr. Piyushkumar Vasantlal Bhatt
- Mr. Pulkit Dhingra
- Mr. Shatrughan Harinarayan Yadav
- Mr. Vipin Sharma
Promoter Holding
| Pre Issue Share Holding | 50.31% |
| Post Issue Share Holding |
Lead Manager(s)
BEELINE CAPITAL ADVISORS PRIVATE LIMITED
807, Phoenix, Opp. Girish Cold Drinks,
Near Vijay Cross Roads, Navrangpura, Ahmedabad -380009
Phone: +91-79-4840 5357
Email: mb@beelinemb.com
Website: www.beelinemb.com
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: ahasolar.ipo@kfintech.com
Website: www.kfintech.com
Contact Details
AHASOLAR TECHNOLOGIES LIMITED
Office No. 207, Kalasagar Shopping Hub,
Opp. Saibaba Temple, Sattadhar Cross Road,
Ghatlodiya, Ahmedabad, Gujarat, India – 380061
Phone: 079-40394029
E-mail: compliance@ahasolar.in
Website: www.ahasolar.in
Allotment Status
Ahasolar Technologies IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
Ahasolar Technologies IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
